Ed Morrissey writes:

Charles Schumer and Barack Obama plan to introduce a bill today in the Senate that will impose more regulation on political speech during campaigns in order to end “deceptive” practices. The New York Times editorial board enthusiastically supports this new bill, even though it admits that the one abuse most often associated with this effort can be prosecuted under existing law.

Glenn Reynolds writes, “It’s all about protecting incumbents. It always is.”

True. And the New York Times supports it because the more the public’s political speech is curtailed, the more powerful the press becomes.

Here’s Morrissey on the new law itself:

A law like this eliminates all but the deepest-pocketed organizations from participating due to the sudden liabilities involved in political speech. It also sets up the government as the arbiter of acceptable and “truthful” political speech, rather than the American electorate — a dangerous position for everyone.
Like so many reformists, Schumer and Obama want to have federal intervention to protect people from their own naiveté. That’s not the proper role of the government, and especially when it comes to political speech. The best defense against deception is education and research, and the responsibility for that lies with the voters themselves.

Well put.